re: Monti could come out of this ahead if he played his cards right....

That part is definitely for the sympathy to get extra Heisman votes no question about it. If it was just to cover up being gay he would have just told his parents they broke up to prevent them from needing to meet her.
But in the end it seems to me he felt the need due to being a Mormon, in a catholic school, playing football that he had to cover up being gay. When his parents started to really wanting to meet her he "killed" her off so they would not meet and to get Heisman votes.